Of particular interest this week:
USA Construction Spending: strong growth into the manufacturing segment.
Australia: coal exports – longer term outlook for thermal improves.
Backwardation & Contango: base metals and comments on gold.
Oil: prices to match producer national budgets.
Copper Zambia’s Cu mines are now struggling under low prices, poor power supply and changed taxes.
Nickel “Bring on the monsoon”. Miners wish to constrain the Philippine mining season.
Zinc & Lead Zn supply constraints are growing. Demand is resilient. US auto-demand is strong.
Tin Recycling has increased steadily over the past decade.
Aluminium China considering large production cuts.
Gold New gold supply does not have material impact upon price.
Platinum & Palladium Anglo American plans to sell South African Pt assets.
Oil Oil prices needed to balance major suppliers’ national budgets.
Coal JAL PFS complete. Longer term demand for thermal coal improving with new commitments to power station builds.
Iron Ore RIO retains long term view for China steel production. BHP softens a little. Hedland ships record.
Shipping Atlantic & Asia-Pacific dry-bulk freight rates mixed this week.
USA – PMI, Construction Spending – spend growth on the manufacturing sector is very strong.
Japan – Industrial Production – growth has slowed to a crawl.
China – Industrial Output – growth is slowing selected key areas, though is positive in others.